By making the Ener1 bankruptcy a political issue, the press is missing the real story regarding stock fraud and our continuing reliance on fossil fuels

Rather than go into a long dissertation in which I provide my usual in depth analysis, I am going to take a page from Seth Godin’s blog and reduce today’s post to a few quick and easy to grasp sound bites, as I believe that it is truly important to get beyond the trees and see the forest regarding the two real issues behind the Ener1 story.

Ener1 is now Ener-NONE!

1. Ener1 is a story about the public’s continuing love affair with fossil fuels.

The failure of ener1 should not come as a surprise to anyone. In fact earlier this year I wrote a 2-Part story titled “With the failure of the electric car concept in America what impact will this have on the lithium ion battery global supply chain?” that provides an in-depth look at the sector.

What is interesting is that this recent failure has little to do with failed policy per say, and more to do with the public’s unwillingness to end its longtime love affair with fossil fuel.

Reference Links: 1 (http://wp.me/p4HrB-2Xa) and 2 (http://wp.me/p4HrB-2XM).

The question is simply this . . . how can we turn our own unwillingness to move away from fossil fuels into a shortcoming on the part of any political party? It’s like ignoring our parents warning not to put our hands on a hot stove and then getting mad at them when we don’t listen and get burned.

2. The elephant in the room, which is the securities fraud class action suit against Ener1.

The peril of people focusing on Ener1 as a convenient political bat with which they can bash each other, is that this little tidbit of information is being overlooked completely . . .

http://investment-losses.com/securities-under-investigation/ener1-inc-hev/

What does this all mean?

Stop using stories such as the Ener1 bankruptcy as a self-serving political battering ram in an election year, in which each party points the accusatory finger of incompetence at each other, which misses the real point and accomplishes nothing.

Your thoughts are of course welcome as always.

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Comments
One Response to “By making the Ener1 bankruptcy a political issue, the press is missing the real story regarding stock fraud and our continuing reliance on fossil fuels”
  1. piblogger says:

    I was asked in another forum to elaborate on what I meant by the hand on the hot stove comment.

    Simply put, if we continue to rely on other countries and regions of the world and in the process continue to get sucked into unstable situations requiring military intervention – the emerging Philippines/China clash is the latest example of a brewing crisis, it is tantamount to knowingly putting our collective hand on a hot stove . . . despite past experience.

    While we all seem to lament this need for military involvement in the affairs of other countries based on an insatiable need for fossil fuels, and at least in voice support the move to becoming self sufficient through alternative fuel sources such as electric cars thus prompting government investment in companies such as Ener1, if this intent does not translate into practical everyday reality, these efforts or initiatives become useless exercises in futility.

    This of course brings us back to placing our hands on the hot stove of military intervention in unstable regions of the world.

    The questions I would pose to you is simply this; 1. do you believe we are too dependent on foreign oil? 2. Are fuel alternatives such as those represented by say the electric car a means by which we sever the aforementioned reliance? 3. If the present alternatives to fossil fuels are not a viable option for pursuit, then what is? and finally 4. D we abandon seeking alternative energy sources and accept the fact that a military intervention to ensure reasonable access to fossil fuels is the only way to go?

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